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The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: Credit Debit 28,000 54,000 Cash Land Notes Payable Common Stock Retained Earnings Service Revenue Expenses Dividends Total 31,400 21,000 9,200 67,000 44,400 2,200 $128,600 $128,600 What will the balance of the retained earnings account be after the closing entries are recorded?

The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: Credit Debit 28,000 54,000 Cash Land Notes Payable Common Stock Retained Earnings Service Revenue Expenses Dividends Total 31,400 21,000 9,200 67,000 44,400 2,200 $128,600 $128,600 What will the balance of the retained earnings account be after the closing entries are recorded?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: Credit Debit 28,000 54,000 Cash Land Notes Payable Common Stock Retained Earnings Service Revenue Expenses Dividends Total Multiple Choice $31,800 What will the balance of the retained earnings account be after the closing entries are recorded? $22,600 O $20,400 31,400 21,000 O $29,600 9,200 67,000 44,400 2,200 $128,600 $128,600
Transcribed Image Text:The trial balance of Barger Company at the end of the accounting period, immediately prior to recording closing entries, showed the following: Credit Debit 28,000 54,000 Cash Land Notes Payable Common Stock Retained Earnings Service Revenue Expenses Dividends Total Multiple Choice $31,800 What will the balance of the retained earnings account be after the closing entries are recorded? $22,600 O $20,400 31,400 21,000 O $29,600 9,200 67,000 44,400 2,200 $128,600 $128,600
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